Life Insurance at 45

Forty-five and here you are with a growing family and mounting financial responsibility. Protecting those you love and the life you are building together is more important than ever. Life insurance at 45 is a smart way to secure your family’s financial future. In fact, life insurance is one of the most important purchases that you will ever make for your family. It’s one of the few ways that you can protect them, even if something tragic were to happen to you.

If you are worried about the cost of life insurance at 45, you probably don’t need to. Life insurance premiums for people in their 40s are still quite affordable and should fit into even a tight budget. We’ll show you some sample quotes for life insurance at 45 in a bit. These figures should ease your concerns. Still, don’t delay, your life insurance costs will only increase as you age.

What we’ll do here is lay out some quick answers to some very common concerns clients have when shopping for life insurance. This can be some pretty complicated business and a decision this big merits the help of a qualified professional. Ogletree Financial Services can be your counsel, a professional agent guiding you step-by-step to the peace of mind you are seeking.

We know that shopping for life insurance can be a long and confusing process, but that’s why we are here to help. It’s our mission to ensure that you’re getting the best insurance coverage at the lowest possible rates. We understand how important life insurance is, and nothing should keep you from getting the protection that your family deserves.

Call now and get started today!  1-800-712-8519

What is Term Compared to Permanent Life Insurance?

These are the two main forms of life insurance. Term policies are simpler and less expensive, while permanent policies are generally more expensive but with advantages that make it a more flexible and powerful financial product. There are two main differences between term and permanent life insurance.

Number one – term life insurance lasts for a certain length of time (the term), usually coinciding with the duration of a particular financial responsibility (e.g. a mortgage or support for your family until your children graduate from college). Permanent life insurance is just that, permanent. No matter when you die, your beneficiaries will receive the proceeds of your policy. With a term policy, if you die after your policy has expired, no benefit is paid.

Number two – permanent life insurance has a cash accumulation feature that does not exist for term policies. The cash values of permanent life policies, whether whole (ordinary) life, universal (adjustable) life, variable life, variable universal life, or indexed universal life (IUL), add dynamic and flexible financial opportunities (sometimes referred to as living benefits) to the basic death benefit of life insurance.

This article is mainly concerned with term life insurance but look for a few links to some great articles we have about indexed universal life and some of the life insurance needs we discuss here.

Why do I Need Life Insurance?

Some financial experts consider life insurance to be a very important part of a sound financial plan. Anywhere you are relied on financially is when life insurance may be needed. First and foremost is replacing the income you provide your family, especially if you have children. This money is the engine that drives your family and is where many clients start their life insurance calculations.

life insurance at 45Your children’s higher education is another expense you may want your life insurance benefit to cover. This is an important part of how you lead your children to adulthood and if you die unexpectedly you don’t want this to change.

4 key features of Indexed Universal Life for College Planning

Mortgages and other large debts are sometimes insured with a life insurance policy, often with what is known as decreasing term policy. Decreasing term policies have a decreasing death benefit that equals the outstanding balance of your loan as you pay it off. A large debt is not something you want to leave for your family, a life insurance policy can solve this issue.Life insurance at 45

Indexed Universal Life for Mortgage Protection?

Small businesses often use life insurance to protect the firm, factory, shop, or restaurant you are developing. Often each partner buys a policy on the life of the other partner. This life insurance coverage, which features very inexpensive premiums, can allow a business to continue and provide additional funds for the deceased’s family.

Funding buy sell agreements with indexed universal life insurance

How Much Life Insurance do I Need?

There are a variety of ways to decide how much life insurance you need. Some are very simple and might just involve multiplying your salary by 15, 20 or 25. For example, if you make $43,000 a year, you might purchase life insurance with a death benefit of $645,000, $860,000 or $1,075,000 (15, 20 or 25 X $43,000).

What size death benefit will cover your financial obligations if you die unexpectedly?

This might be an easy way to get started, but when making an important decision like purchasing life insurance, you will want to invest a little more thought into the Life insurance at 45process. This is where the guidance of a qualified agent from Ogletree Financial Services is extremely advantageous. A thorough analysis of your family’s financial standing and future goals will lead you and your family to the appropriate life insurance coverage at the most affordable rates available.

A qualified agent can help you to consider the various needs you want your life insurance to meet.

If you want to ensure your children’s college education, where will they go to school? The price of a college education rises every year, so when will your children go to school? Do you want to take care of all college expenses or just tuition and books?

If you are interested insuring your mortgage, check out a decreasing term policy with a face value that decreases over time, tracking the balance of your debt as you pay it off.

Arriving at the correct life insurance strategy for your family will take some work, but the peace of mind you feel will make your investment more than worthwhile. Ogletree Financial Services can be your advisor and start you towards a confident financial future for your family.

How Much Will My Life Insurance Cost?

Life insurance at 45At 45 and in good health your life insurance policy should be very affordable. Team up with the experts at Ogletree Financial Services to make sure. We represent over thirty top insurers and we can evaluate your unique risk and pair you with the best life insurance carrier for you and your family.

We have set up four tables with some sample monthly premiums for a non-smoking, 45-year-old male and female. These sample quotes are for term life insurance, with a table for a preferred plus risk rating and one for a standard risk rating.

Term lengths of 10, 15, 20, 25, and 30 years, with face values of $100,000, $250,000, $500,00 and $1,000,000 are shown. These are only sample premiums, your premium will be based on how your unique risk is assessed. These sample quotes were collected in June of 2016.

45-year-old Male Preferred Plus Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker

$100,000 $250,000 $500,000 $1,000,000
10-year $14.01 $19.16 $32.35 $53.57
15-year $16.35 $24.98 $42.30 $75.15
20-year $19.60 $29.38 $53.57 $98.09
25-year $24.83 $41.87 $76.90 $148.26
30-year $28.08 $49.95 $86.54 $165.02

45-year-old Male Standard Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker

$100,000 $250,000 $500,000 $1,000,000
10-year $19.07 $36.32 $63.50 $108.47
15-year $22.58 $42.35 $80.78 $143.07
20-year $27.07 $56.12 $98.09 $189.78
25-year $39.09 $77.98 $146.53 $286.97
30-year $45.06 $98.75 $176.69 $326.99

45-year-old Female Preferred Plus Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker

$100,000 $250,000 $500,000 $1,000,000
10-year $11.42 $17.86 $26.78 $45.79
15-year $12.28 $22.62 $31.97 $58.75
20-year $15.60 $26.94 $41.43 $77.33
25-year $20.41 $32.65 $58.54 $111.47
30-year $22.66 $37.54 $66.28 $129.60

45-year-old Female Standard Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker

$100,000 $250,000 $500,000 $1,000,000
10-year $16.76 $28.46 $51.38 $89.44
15-year $19.27 $34.64 $66.53 $116.26
20-year $22.20 $41.48 $79.49 $143.07
25-year $28.98 $56.14 $105.88 $203.62
 30-year $32.20 $65.32 $125.28 $243.65

There are several ways that you can get lower rates from the insurance company. Making a few lifestyle changes can save you thousands of dollars every year on your life insurance rates. It’s important that your family has the money that they need, without having to break your bank every day.

The first thing that you should do is quit smoking. If you’re listed as a smoker on your life insurance application, you can expect to get much higher rates for your insurance coverage. In fact, smokers are going to pay at least twice as much for their protection versus what an applicant who doesn’t smoke is going to pay. If you want to save thousands of dollars every year, then you’ll need to quit the bad habit once and for all.

The next thing that you should do is improve your health. Before the insurance company improves your health, they are going to require that you take a medical exam, and the results of the exam are going to play a major role in how much you pay every month for your coverage. If you want to get lower rates, it’s time to improve your health. Starting an exercise program and sticking to a healthy diet is a great way to hundreds of dollars every year.

Life Insurance at 45

Hopefully, this article has you familiarized with the basics of life insurance and given you the confidence to pursue this important move for you and your family. Right now is the time to get started!

Life insurance is one of the most important investments that you’ll ever make for your loved ones. It’s one of the only ways that you can ensure that they will have the money that they need. If something tragic were to happen to you, and you didn’t have life insurance, they would be left with a massive amount of debt and other final expenses.

You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the insurance plan that your family deserves. If you have any questions about life insurance or which plan is best for you, please contact one of our agents today. We would be happy to answer those questions and connect you with the lowest insurance premiums around. Our agents have years of experience working with all types of clients across the country, and we know which company is going to work best for you.

And getting started is easy!

  • Give us call at 1-800-712-8519!
  • Leave us a message on our contact page to get a custom quote!
  • Use the free term quoter on the left side of this page!
About Ogletree Financial Services
About Ogletree Financial Services

As independent life insurance agents, we specialize in finding the best life insurance rates and policies for our clients.  Our customers are located all over the USA.  If you would like a personalized life insurance quote, you can start here on our website or give us a call at 1-800-712-8519.

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